Cpcu 557 Study guides, Class notes & Summaries

CPCU 557 Chap 9 Questions and Answers 2023|2024 Already Passed WC Statute - ️️ a statute that obligates employers, regardless of fault to pay specified medical, disability, rehabilitation and death benefits for their employees' job-related injures and diseases. Occupational Disease - ️️ Disease thought to be caused by work or the work environment. Temporary Partial Disability (TPD) - ️️ a disability caused by a work-related injury or disease that temporarily limits the exten...

CPCU 557 Exam Questions and Answers Latest Updates 2024 GRADE A+

CPCU 557 Questions & Answers Graded A+ Which one of the following statements is correct with respect to the Causes of Loss- Basic Form? Select one: A. The Water exclusion contains an exception for damage due to the backing up of sewers, drains, or sumps. B. It excludes loss caused by power failure only if the damage causing such failure occurs on the described premises. C. It excludes loss caused by earth movement, other than by sinkhole collapse. D. The War and Military Action exclusio...

CPCU 557 Questions And Answers | Verified Solutions 2023 Real property Buildings, driveways, sidewalks, underground piping Categories of personal property Contents, Property in transit, Property in the possession of others, Floating property Floating property does not remain at a fixed worksite or is in transit between work sites. Property in transit Transported by a variety of means, for any length of time Property in the possession of others an organization may place its property ...

CPCU 557 Chapter 2 Questions with correct Answers Graded A+ BPP Loss Conditions - ️️ Abandonment Appraisal Duties in the Event of Loss or Damage Loss Payment Recovered Property Vacancy Valuation Coinsurance Mortgageholder What are the 4 Loss Payment options? - ️️ 1. Pay the Amount of the Damage 2. Pay the cost of repairing or replacing the damaged property 3. Take all or any part of the property and pay either agreed or appraised price 4. Repair/replace with LKQ When will ...

CPCU 557 Chap 3 Questions & Answers Already Graded A+ Business Income Insurance aka Business interruption coverage - ️️ Insurance that covers the reduction in an organization's income when operations are interrupted by damage to property caused by a covered peril. Continuing expenses - ️️ Expenses that continue to be incurred during a business interruption. (Payroll of key employees, debt repayments, taxes, insurance, etc) Noncontinuing expenses - ️️ Expenses that will not co...

CPCU 557 Chap 9 Questions and Answers 2023|2024 Already Passed WC Statute - ️️ a statute that obligates employers, regardless of fault to pay specified medical, disability, rehabilitation and death benefits for their employees' job-related injures and diseases. Occupational Disease - ️️ Disease thought to be caused by work or the work environment. Temporary Partial Disability (TPD) - ️️ a disability caused by a work-related injury or disease that temporarily limits the exten...

CPCU 557 Chap 8 Questions and Answers Already Passed Doctrine of Respondeat Superior - ️️ Aka let the master answer Liability falls on the employer for the employees actions (as long as they were in the scope) Employers Nonownership liability - ️️ An employer's liability for its employees' operation of their autos in the employer's business. Covered by commercial auto insurance. Garage coverage form - ️️ contains optional garagekeepers coverage for insuring loss to custom...